Non-fungible token (NFT) marketplace Metaplex may be the new kid on the block, but their recent backing proves it might be here to stay.
Since its inception, it has curated over 85,000 projects and over 5.7 million NFTs. According to Markets Insider, Metaplex has also maneuvered $385 million in NFT transactions spearheaded by Degen Ape Academy and Aurory.
Now, the marketplace has closed a $46 million funding round, Markets Insider reports. The round was led by Multicoin Capital and Jump Crypto with participation from Solana Ventures, Alameda Research, and Animoca Brands. In addition, NBA legends Michael Jordan and Allen Iverson also participated alongside 100 additional investors.
New Funding Will Support Underrepresented Communities
Metaplex launched in June 2021 with support from cryptocurrency exchange FTX. The company’s mission is to empower creators and brands to connect with their audience by granting access to its Storefront and NFT sales, according to its website.
“We believe the metaverse will be open, censorship-resistant and globally accessible,” said Sergey Vasylchuk, director of the Metaplex Foundation, according to Markets Insider. “In this metaverse, Metaplex will serve as a common protocol and NFT standard to empower the next wave of decentralized commerce, social and gaming experiences.”
Metaplex’s new funding will amplify the company mission further, as new capital will support the scale of its operations and distribute grants for various creators in underrepresented communities, Markets Insider reports.